Position: Long Entry date: The new daily candle on 05/27/2024 should trigger the entry at 0.66365. Stop-loss: 0.65922 Risk/reward: 1:2.19 Swap: It's quite low considering that this trade is supposed to be held for about 7 days, and the interest rates on AUD/USD are not significantly different. Pros: 1) The monthly trend is bullish. 2) The weekly timeframe shows a potential 2-1-2 Bullish Continuation pattern. 3) The daily timeframe shows a potential 2-2 Bullish Reversal, which we can use as an ancipated entry to trigger the weekly. Cons: 1) In a week, the monthly timeframe changes, potentially triggering entries but not reaching the TP and then reversing direction at the flip.
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